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. tonight on "the willis report" wall street loves california's huge tax increase, but is it already backfiring? also, it started as a few hundred pages. now it is 70,000. tonight, the federal income tax on its 100th birthday. and what does the death of investment club tell us about the overall health of the market? "the willis report" is on the case. ♪ gerri: all that and more coming up. first, the fix that will only create more problems. democrats, once again, pushing for more tax revenue and putting a tighter squeeze on all of us. to get the u.s. out of the financial black hole, but washington only needs to look across the country to california to see how this will play out. with more on this, michael reagan, founder of the rating group. welcome back to the show. great to have you here. i need to get you to comment on to harry reid. this weekend talking about more taxes. he says, the american people are on his side. here he is. >> the american people don't believe in this bustier things. we believe that the rich should contribute. we believe we should fill those tax loopholes, g
obama. once again obama is pushing for higher taxes. don't take our word for it. listen to what he said last night just before the sboel. >> there is a way to solve the budget problems in a responsible way through a balanced approach that the vast majority of people agree with. if we do there is no reason we can't have strong growth in 2013. we can't b have washington dysfunction getting in the way. >> with all respect, free market capitalism is the best path to prosperi prosperity. more tax hikes will not hurt this economy. let's not push our luck. republicans will block it. we'll be right back. ♪ if loving you is wrong ♪ i don't wanna be right [ record scratch ] what?! it's not bad for you. it just tastes that way. [ female announcer ] honey nut cheerios cereal -- heart-healthy, whole grain oats. you can't go wrong loving it. >>> stock market correction today. i still believe rising profits and an easy fed will keep the bull market going -- at least until the president tax bombs us to death again. that's what obama said before the super bowl yesterday which could be the real reaso
even with massive tax hikes and assuming the spending cuts do kick in. congressman tom price pushing the president to balance the budget and says this new report is proof we can't do that by hiking taxes. what about that? we're still going to be deep into the red. >> good to be with you. the president has put forward for different budgets, none of which have ever come to balance. the house republicans have acted responsibly, our budget is yet to balance, so what we will do is put together a budget that balances in a ten-year time. all it does tomorrow it says to the president tell us when you'ryourbudget balances. it is important to do that because we have our principled solutions with the program. liz: used a dozen state when the budget would be balanced, is that it? >> we have had to end dollars deficit of the past four years in the past for budgets by this president have never come into balance ever in the 75 year time frame we talk about budgets. the american people need to know that. it is important the president gets mad because then we could talk about the positive solutions a
. the president and senator reid old want more revenue beating one way or another, more taxes. and yes, the dow is turning away from backing off from 14,000. here we go, everyone. "varney & co." is about to begin. [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪ from td ameritrade. all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. stuart: we are going to call this a news alert. senator harry reid calling for more tax increases. in an interview on abc yesterday, he said tax revenue must be part of any deal to be part of the little defense cuts. here is senator reid. >> the american people are on our side, and america p
tax rates anyway by nearly 25%. what it triggered was falling inflation, falling interest rates and the strongest economic expansion in 30 years. [ male announcer ] i've seen incredible things. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪ no they don't. hey son. have fun tonight. ♪ ♪ back against the wall ♪ ain't nothin to me ♪ ain't nothin to me [ crowd murmurs ] hey! ♪ [ howls ] ♪ >>> global stock market still on a tear. did you know almost 20 world indexes traded at new multi year highs this year already? did you know japan, the hottest of the hot up 3.8% just today? cnbc's seema mody joins us. >> we have seen a revival in global equities. better than expected earnings. easy money from the fed and decent economic data brought fresh money to equitieequities. the s&p 500 and nasdaq trade at new highs. the ral d
, this is the same president that said there was no tax increase, and told us about 17 different tax breaks for small business, if you had your faith in this guy before you voted and you you voted for him, and youon a small, or you work for a small, i have a bridge for sale in brooklyn, i live a long a away, come on, this is nothing. nothinbut promises. marko, what about the fact that government, you small be owners never rely on the government, you rely on your own hutzpah you got. we do, and politicians do not create job and small business owners and entrepreneurs like us. but that is also why i can't understand why you cancel our council on jobs because it is those people there are out there in trenches that are creating jobs across small towns and city across america, why would you stop that dialogue and not listen to them. tom. toma, what about obamacare? the question that has been at least last year. was, the uncertainty, the uncertainty, of what it would cost, do you feel any more uncertainty or had any more certainty now we have one month you were our belt? >> we don't feel more certain about
♪ >> do not be fooled by the headlines. the economy is in bad shape. tax and spend is a failure. good morning, everyone. the bean counters presented the report on the economy. and what did the media pick on? the deficit. this year it will be below a trillion dollars, that's what the pundits focused on and ignored the grim reality. in fact, our debt is headed toward the worst levels in post war america. worst, the economy will show a masly 1.4% growth. unemployment rise to 8%, stay at very high levels for years, and 7 million people will lose their health care coverage under obamacare. that came within hours of president obama's call for more tax increases on the rich and put off spending cuts. tax and spend, it lives on and so does our massive debt. reality check, "varney & company" is about to begin. [ shapiro ] at legalzoom, you can take care of virtually all your imptant legal matters in just minutes. protect youramily... and launch your dreams. at legalzoom.com we put the law on your side. >> first up this wednesday morning, gas prices, yes, they are still on the rise. national a
these tax. the courts have validated that businesses have the responsibility to protect against these types of attacks. gerri: at my bank does not protect me and should be their fault. answer, who are these people doing this? >> obviously we have these other governments, the chinese government that we believe is going -- for example, the new york times, trying to find out who the sources that the reporters used to write about the dissidents in china. it wanted to get at them and learn. that is one. gerri: not on to the three best thing. >> the other side is the internet additives that are all over the place angry about civil liberties and angry. an internet activists who was under investigation by the u.s. government. he had other problems, credits suicide in january which anchored -- the fact committed suicide was sad, but anonymous was angry at the way the government went after them. gerri: and that is actually what is behind this attack. to you. anonymous, these fellows are angry, they don't like the way things are going. another trying to get a personal information. what do you make of
? ishares. low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. liz: the president is meeting with labor and business leaders today to discuss his immigration plan. our next guest born in bombay, came to the u.s. graduating from mit and harvard where he then stayed, grew the company in silicon valley now worth billions of dollars. david: and employees thousands. joining us now, chairman and ceo. so good to have you here, thank you for coming in. as wonderful as your story is, there are hundreds of other stories, perhaps thousands like it in the united states were people dream of coming here, learning that a place like mit or stanford and go on to set up a business that employs thousands of u.s. citizens. tell us about your story and if it is emblematic of what happens to others. >> yes, that is true. i showed up
everybody's wallet just as taxes go up on every paycheck. plus, the economy is shrinking, unemployment is rising and the president calls forever higher taxes. a gas spike could not come at a worse time. $2900 per family. this is what happens when bernanke pushes down the value of the dollar. off goes oil and off goes gas. this is the inflation that everyone sees and everyone feels. varney & company about to begin. did yoknow not all fiber is the same? citrucel is different- it's the only fiber for regularityhat won't cause excess gas. it's gentle and clinically proven to help restore and maintain regularity. look for citrucel today. stuart: breaking news from dell, as expected. the company is going private. the stock is up 30% this year. it is a done deal. i have a whole raft of tax stories for you. first item, the feds propose to legalize marijuana and establish new pot tax. that would bring in an estimated $20 billion a year. passage of the law a longshot at best. today congressman eric cantor will give a speech on just how expensive it is to raise a family and how higher taxes will
gerri willis. tonight on "the willis report." a new federal tax policy. the latest push in congress to make marijuana legal and tax it. president obama proposes a short-term fix to delay automatic spending cuts one day after he blows another budget deadline. and the shocking proof union leaders just want more power, not power to the people. "the willis report" is on the case. all that and more coming up later, but first, the top story tonight, building in washington can change, totally remake current marijuana laws. including legalizing industrial production as well as establishing a federal pot tax. lawmakers on both sides of the aisle worked away on these bills, one of which introduced just today by two democratic congressman. both of them calling for an end to federal pot prohibition. will it work? joining us now, drug policy visor and founder and executive director of the drug policy alliance. starting with you. melissa: it is a lot like the appeal of alcohol probation. if it doesn't work, it is not effective and they say it is costing tens of billions of dollars every year, div
>> we'll talk about it later. we had seven states that had no state income tax, but there are other states that are working in that direction. bobby jindal is trying to put louisiana there. the now republican governor of north carolina trying to bring down rates or perhaps eliminate them altogether. >> because they can attract business because you've got people in texas, louisiana and other states knows you can attract business and even chris christie in new jersey, he's trying to steal business out of illinois. same thing, he can give them better deals, better tax rates and a better quality of life for the residents there. more people have jobs in that state, the more revenue they pay to the state the better off the state is, they get it. >> if you want to work. if you want to sue people, you go to chicago and california. cheryl, thanks very much. coming up next, one of our voices from chicago weighs in on that city's cops, suing for overtime pay for blackberry use and a little later, bruce willis whose latest action movie is about to hit the theater coming out against gun control.
. this business about raising taxes, it's not catching on. i just don't hear it from down there. >> the house republicans aren't feeling the president to raise taxes. it's a complicated argument to help, that's why it's really not catching fire. a lot of defense industry lobbyists are giving republicans heat, they don't feel heat from the constituents because the constituents they think want to see real spending cuts. americans want spending cuts, they don't want political gains. >> i really do. i think when you look at the poll, americans still want smaller government and fewer services, aka spending cuts. i think this is the white house's big mistake, they're barking up the wrong tree. the only question i have, it is after all republicans, will they hang tough? in your opinion, you're closer to it, will they hang tough? >> i spent all day on capitol hill talking to house republicans privately saying what's going to happen between now and march 1st? they say the house leader has promised them privately they're not going to replace the sequester unless there are real cuts to replace the seque
. >> thank you so much. >> coming up, did you think that democrats would stop asking for more taxes? s revenue push reving up again. >> up next, he was member of white house top jobs council. robert wolf is here. officemax is celebrating our new collaboration with go daddy! with an online pacge including: domain name, website builder with five pages and basic email just $49.99! that's up to 76 percent below online providers and only at officemax stores! we replaced people with a machine.r, what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. charles: millions out of work and more asking where the jobs. roberts wolf served on the job's co
? you have the jobless rate picking up, economic growth slowing down and the federal income tax turning 100 this sunday. fears are growing it's only heading higher. swatch out on the price of good friday. it's 14,000. >> let's celebrate. we're rich, we're rich again, part two. here's what i think about the income tax. remember those coffee mugs, life begins at 40? how about for the income tax life begins at 100. let's actually fix this thing, make it a little more favorable for businesses, for income, for individual income earners. i mean, that would be a lot better than at least leaving it at this rate. >> some say we've had it for 100 years. maybe we should keep it for the next 100. >> here's the thing. i'll tell you. it's been a rough 100 years with regards to income tax because there's been a lot of wrangle ling. if you just look at the numbers, we rely on the top 10% of taxpayers, jenna, as a country more than any other developed nation in the world. we know we have the highest corporate tax rates. >> you just don't want to pay your taxes. >> hello, irs, i don't want to pay my taxe
away from its all-time high and a taxing debate in washington. president obama once again says he's going to seek to get new revenue to help bring down the deficit and specifically, he's now calling out carried interest tax breaks again. we'll see where that goes. plus, the story that everyone is talking about this morning, the ravens holding on to beat the 49ers in the super bowl after the lights went out for 45 minutes at the superdome. we're going to try to keep the lights on. "squawk box" begins right now. ♪ if you like it then you should have put a ring on it ♪ ♪ if you like it then you should have put a ring on it ♪ >> good morning, everybody. i'm becky quick along with andrew ross sorkin. joe kernen is on vacation today so we're joined by steve liesman. we're happy to have him here. our top story this morning, the market. we have assembled a trio of wall street's most respected voices to join us for the next hour. we have a lot to talk about this morning. plus, there is that issue of the lights going out at the super dole last night. officials say an abnormality in
. a lot more to come including every look at a -- elected ridiculous tax bill. is the world's second-biggest company paying their share? and a ridiculous debate over a waitress showing a recede saying a tape was not paid by pastor. mandatory tips. stay with us. ♪ all stations come over to mission a for a final go. this is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captur. is connecting today's leading companies to places beyond it. siemens. answe. ♪ gerri: all right. tonight we're breaking down one of the most talked-about job firings of the week. a waitress at apple bees getting the boot for posting a picture of a receipt that was left by a pastor slamming the automatic gratuity added to his bill. the st. louis pastor scratched out the automatic 18 percent tip, wrote zero where the additional tip would be and wrote, i'm giving guide 10%, why should i give you 18? joining me now, managing partner . fox news legal analyst. i'm sta
wants more "revenue." >> and looking to expand it. >> republicans would have been blamed for any tax increase on the middle class. >> the end result being he takes more money off of wealthy people. >> it slows us down gradually. >> many can say texas don't matter. of course they will in the long run. stuart: here we come. what a perfect moment to throw it to dagen and connell. connell: good morning, everyone. dagen: america is a good bet. here to tell you why. connell: one of our guests in this hour could be the next energy secretary. dagen: more on the power outage and the record-breaking at cbs sports for that incredible game. connell: and cyber attacks, the white house considering action against china. dagen: i had the ravens, did you? by a field goal, 27-24. connell: nobody knows football like dagen mcdowell. clearly. dagen: stocks now has to do every 15 minutes, nicole petallides at the new york stock exchange. nicole: a good bet going. if yo you're betting on the mar, 14,000 mark a little disappointed today, we are pulling back, dow jones industrials down 116 points right now.
$84. they talked about payroll tax increases. it is in a more competitive environment. the easy way for walmart is over. a little bit of a pullback is expected. back to you. melissa: thank you so much. a big month in january. we get to the bottom line with elizabeth macdonald. why is this? >> you have been talking about that great rotation. we have not seen a start like this in 15 years. in the month of january alone. it surpasses what happened all of last year combined for all four quarters. the bears have left the building. the s&p forward earnings that we are looking at are still cheap versus the october 27 peak. the s&p 500 was trading at 13. if it hits 14, then you are talking s&p 1600. if it hits 16, you are talking s&p 1700. are we setting up a classic bear trap? that stock has gotten ahead of the economic recovery. we are seeing the togo war on whether or not we will have a downdraft by end of year. melissa: who is winning? >> though bulls are winning for now. if there is a pullback there, you could be in a downdraft air up. melissa: thank you so much. lori: this has been th
wants the package delivered on saturday, but they also do not want to take on tax burdens to bail us out. in terms of delivering mail more than 5 days a week, we take no tax money now, and we don't want to take it. charles: by the same token, this will save perhaps $2 billion a year, but post offers lost $ 15 billion last year this is something akin to the pro verbal drop in the bucket. at some point unions they have to come to the table and make some sacrifices? >> the unions have played sacrifices, -- have made sacrifices, to give you an idea in last 4 years we reduced a head count by 193,000 people with the same work lloyd, key thing to remember about finance with we lost 15.9 billion last year, 11.1 was due to our inability to make a prefunding requirement for retiree health benefits, operating cost was closer to 2.5 billion, moving to things in our health care give us the ability to close the gap, we have a 5 year plan if we make that happen, we get profitable, and can payoff our debt. charles: i don't' to be disrespectful it sounds something like a pipe dream, these are the same un
as a baseline scenario. remember, all the times the bush tax rates were expected to expire. this is probably the best look. the most honest look we have gone from cbo in years now. i want to show you one more thing on deficit reduction. this is the three scenarios. if you increase deficits by $2 trillion, long-term, by 2023, you start to slow down if you had no deficit reduction. look at how much growth increases here. you take a short-term hit for next year, in the long term, you are adding almost two percentage points to gdp. back to you. lori: that was just about as helpful of a visual as you can get when it comes to understanding this math. melissa: that really breaks it down. what is the cost of reducing the deficit. if only we would have done that before. a great report. thank you. lori: troubling, at best. let's continue on. reversing yesterday's pullback and continuing to rally through the start of this year. will this continue? >> i am pretty optimistic going forward. i do think you will hit about 1675 on the s&p as the year end target. the housing recovery will continue. i think ov
in lithuania is looking for new ways to find tax cheats, google maps. that's right, lithuanian authorities will use google street views to identify tax cheats with the real value of holdings liz: liz: don't give them ideas. i covered the taxes for a better part after decade and irs and this could be considered an invasion of privacy and whether the street view is correct and looking at the right property. there have been mistakes. charles: i remember when they started with the cameras on the vans and everybody says it's used for this purposen never for that purpose and people think there's a lot of paranoia. i think it's legitimate. it's realistic that one day that can happen here liz: liz: i'd like to see the street view of you and your property guarding or mowing the lawn. charles: the reality check, the real estate agent is ready to fight me point for point as i pour cold water on what stuart calls the bright spot in the economy. that's new at 10. ? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you
.6% to 58.6%. >> they want their payroll tax cut. >> declined december to january. >> they want the payroll tax cut, no wonder. >> the big picture job numbers that came out try were encouraging but even business experts were looking at the big picture and seeing the economy in job growth has been sluggish and terribly sluggish for a really long time. still hovering around 8% up employment. when is this going to end? no one sees it ending soon. that is bad news overall. >>> what do you think mort? >> i think the she remains weak -- economy remains weak. as pat was saying. $25 billion a week in terms of deficit spending trying to boost up the economy. secondly, $85 billion a month, coming out of the federal reserve, the loosest monetary policy we have ever had. we can barely get the economy to grow. it was 2.4% last year, then 1.8%, if that, maybe even less this year. despite all the stimulus. so the economy is continuing slow, it is not even staying flat. >> so you are saying we are in for several quarters of low growth? >> we hope it is going to be several quarters of low growth. anything c
, after paying $24 billion in taxes in 13 weeks. where are those shares operating? nicole: let's take a look, shares are up slightly, up 1/2%, oil around, earnings have been on the rise, earnings rose 5.9%. chemical and refining earnings provided a boost and where they did see production fall to three year lows. is a big tax payout. charles: those devious deal oil--oil companies courting the money. thanks a lot. it was january to remember for markets. it has been huge but not so much for apple shares. stock down 14% this year. and flat over the past 12 months. it has been tumbling and you see is that $2.34 hovering around at 450 area. a different story. for the blackberry that is a 9% in january all bound down 24% over the past 12 months. at stock has been extraordinarily volatile up $0.43, $13.40. we will keep an eye on them for you. the jobs report we want to bring in austan goolsbee, professor at university of chicago school of business and former white house economic adviser in chicago. thanks for joining us. your initial assessment of the jobs report number? >> rider around expec
. melissa: james, last word. 21 billion went on tax incentives for energy efficiency for renewable energy projects. i mean, maybe a great thing, but should potholes have come first maybe? i mean, maybe -- >> yeah, you know, it's a shame government doesn't work because this is actually the right, general structure for tax. ideally, it's a gas tax that pays for roads. so the user is paying. and, unfortunately, it doesn't go to roads. melissa: it doesn't work, right. that's the essential problem with government. it doesn't work. all right, guys, thanks. appreciate your time. >>> time now for today's fuel gauge report. a huge winter storm is barreling down towards the northeast. have you heard about this? didn't stop natural gas futures from nose diving today. natural gas stockpiles fell far less than anticipated last week, and lower oil refinery demand, crude hit a two-week low settling at $98.83 a barrel, and opec's production fell compared to december. output shed by 200,000 barrels to 30.45 million a day. lower production by saudi arabia -- we'll place the blame there. >>> all right, so i
't get the check out, they pay more and more. the tax tab just keeps going up, up, up, up, up, up. >> well, i'm not surprised because this is just the nature of government relief. gerri: it sure is. >> it isn't very cost effective. this ties in to the other big story that's going on this week in washington which is, you know, whether these federal agencies can, you know, cut five cents out of the dollar, you know, in these sequester cuts and all the agencies are saying, oh, my goodness, we can't possibly absorb these cuts. jr. jer that's going to be our deficit this year. are you happy about that? we're under a trillion. whoo hoo, throw a party, right? >> and the sequester's supposed to cut that by a grand total of about 10%. but fema's a perfect example of what i'm talking about. does anybody not really believe that fema couldn't increase its efficiency by 5%? my goodness, that's nothing given the kind of waste, fraud and abuse that you've shown on this show. look, they could easily do that. gerri: well, that would be a starting point. that's not the whole way to go, that's for s
into foreclosed houses and take possession of them if they hang on for seven years and pay the taxes. right now, because of it, officials are trying to get that law off the books. >> we don't need people who move in houses, who are con people. it's just a cop game. no one needs this in their neighborhood. we don't need it in the state of florida. >> so while loki boy is gone, he's left a string of copycats in the wake, and 11 in the past two weeks have filed these adverse possession rules to try to get in on some major properties. one of the houses bigger than the one behind me, a $4 million ocean front mansion now occupied by squatters who say they have a legal right to be there. melissa? melissa: steve, wow, quite a story m thanks so much. now turning to today's market moment. the blizzard slamming the northeast led to a quiet day on the wall street. dow briefly crossed the 14,000 mark, all three majors posted modest gains. the dow, however, snapped a five-week winning streak. meanwhile, nasdaq and s&p 500 had sixth straight weekly gains. next on "money," the roof is blown off in a legal arms
the leadership failures all levels of our government on september 11, last year. questions remain with future tax with american interests. fox news correspondent with our report. >> based on time, ed distance. >> the redneck gets in on negative gone there in time. >> it takes hours to be able to respond. >> defense secretary panetta and chief dempsey said by the military could not do more to save the lives of about sitter christie's -- chris stevens and benghazi wants whatever 11th. >> in a the state's military is not and frankly not should be and then on one service capable of arriving on the scene within minutes to every possible contingency around the world >> republican senators were not satisfied. >> did you know, how long the attack would last? >> no idea is to make it last two days and never airplanes in the world before it was concluded? >> no senator. >> your responses are very inadequate and the same inadequacy for the security that you provided at the consulate. >> what did the president know and what he knew it. >> he did not asking about visibility what we could do? did you have fur
's they will undermine everything you do right away. it hurts the economy. remember these guys aren't paying taxes or investing in people or investing in the next iphone, they are not trying to put the super bowl on, they are criminals. when you buy something from these people your money is going to organized criminals overseas. dagen: how do you drive that message come from nfl fans? if i want to stick jersey, nike wasn't making one, i am going to go out and find it some way somehow? >> that is a great question. we work with licensees to make sure there's merchandize the fans want that are available for them at every price point. so that they are not tempted to go out and buy something from a counterfeiter. we work hard with licensees and local businesses in new orleans and elsewhere to make sure we can meet the demands. dagen: designed it to go to the game since he is in frugal in this crackdown on counterfeiters? did you get him a ticket? >> we would love to have him. dagen: i would buy a plane ticket and 5 were you. john morton and anastasia daniels on the crackdown nfl merchandise or counterf
of the kind of things you want to see, cap and trade or perhaps a carbon tax or things like that. china and india continue to add a power plant, essentially, every week. so, do you look at that and say climate change is going to happen, no matter what at this point? >> well, some climate change is already happening and will continue to happen. the physics of the problem are quite challenging. we put, well, 85% of the internal used by earth inc., it comes from fossil fuels. and the combustion of those fuels results in us putting 90 million tons of heat-trapping pollution into the atmosphere every day, as if it's an open sewer. it does obey the laws of physics. it traps enough extra energy every day to equal the amount in 400,000 hiroshima atomic bombs. filling the sky with a lot more water vapor and these great basins of water vapor in the sky are now filled or overflowing. you get the kind of downpours in my home city in nashville where thousands lost their homes and businesses and had no flood insurance because it was a once in a 1,000-year event. yesterday in australia 2.5 feet of rai
. but coming up next. >> no family making less than $250,000 a year will see any form of tax increase. nothing in this plan will require you or your employer to change the coverage or the doctor you have. >> a new term brings brand new lies from the president, why he's broken his word yet again and again and again answer check with michelle malkin and juan williams and they'll square off. and coming up. >> it's basically not illegal anymore. >> sean: bombshell testimony from a top immigration expert as he reveals why the president's policies are putting federal agents at risk and new lacks deportation rules could lead to the next 9/11. we'll have that powerful story and david limbaugh all coming up. [ male announcer ] this is anna, her long day teaching the perfect swing begins with back pain and a choice. take advil, and maybe have to take up to four in a day. or take aleve, which can relieve pain all day with just two pills. good eye. [ male announcer ] how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.
in the next few months we have a lot of head winds. as i mentioned the sequestration, the tax debates that are coming to the forefront so with volatility at historic lows, why not give it a try in terms of putting on cost protection as we've seen clients do because the fact is it is all time lows for the bang for the buck, risk for reward that you have. >> what else can you tell us about the snake, the year of the snake that may play into this argument? >> as far as i know it's a black water snake so it moves a lot so hopefully that means more volatility for us in the future. that's about as much as i can get as an astrologist. >> in terms of chinese new years other years, away from the snake, i mean, did they have any impact on the markets in the past? >> no. >> it's just a conflins of negative things. >> last year was the year of the dragon but obviously we've seen a lot of volatility in years like that. 2008, for example. look, the fact that we have this astrological sign but more importantly we have this lineup in options land with the vix and with the implied volatility levels. >
for business.com. and see why our low taxes, sensible regulations, and fair legal system are just the thing to get your business moving. >> bill: that ad is running in most large california cities and of course is very controversial. joining us now from fort worth, texas. brook rollins. promotes free enterprise in that state from. san francisco, chief legal officer at virtual fan network and digital media company. joe, we begin with you. this is -- they are trying to poach business from your state, take them out and they have the stats to back it up, joe. >> well, i don't know about that i mean, california created more jobs last year than texas, oregon, and west virginia combined. but, i do want to thank the governor for spending his $24,000 here in california. my personal opinion it probably would have been better spent with the boys to men campaign. the reality is california is never going to compete with texas on oil production and natural gas production. the same way texas is not going to be able to compete with california, northern california with entrepreneurialism and culture for inn
made no money in the past five years. and don't get me started on taxes. put it together and adds up to big delays in retirement a new study shows nearly 2/3 of americans age 45 to 60, plan to put off the retirement. today's "money" power panel is help you to. spencer patton, steel vine investments the chief investment officer. peter schiff, europacific capital ceo and susan knox, former treasury department advisor under president obama. spencer, let me start with you, you talk about people retiring later and later, you blame the fed in part. >> i really do. the fed has done a tremendous disservice in robbing savers, people that are planning on retiring, the people that are not trading in the stock market, but most people setting aside money, the chance to be able to retire. you're seeing not only have they not just made money, they have lost money due to the inflation and withering away of the u.s. dollar as the fed just prints money endlessly. it's horrible and it's, just further pushing back retirement for people that can't afford a delay. melissa: peter has retirement become a th
the cuts, democrats call for a mix of tax increases, spending cuts, and republicans say the tax issue is closed. >> replace the president's sequester, we need the democratic colleagues to be serious about spending. i wish i could give the american people more cause for optimism, but we see the president's budget is late, and the senate has not had a budget in four years. >> the response from democrats, a spokesperson for nancy pelosi writes, "republicans need to stop governing by sound bites. the bill brought to the floor this week does not address the urgent needs of the american people, nor does it avert any of the upcoming g.o.p. manufactured crisis or the sequester which will destroy jobs, harm the recovery, and hurt the middle class." last evening, president obama said there's room to eliminate tax deductions and loopholes, mentioning carried interest. that's when investment advisers pay the lower capital gains rate rather than regular income tax rates. back to you. david: rich edson in dc. thanks. a look at jacob lew, the man the president picked to be the next president secreta
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the technology cost but many companies in idaho are discovering it actually can increase their tax bills. software is tangible property regardless of how it is transferred to the customer. idaho the most recent state to tax cloud services. and according to a new survey, young adults are now facing stress levels that are higher than the national average. this is a survey done by the american psychological association and finds 18 to 33-year-olds reporte report beid by health care provider they have depression or anxiety disorder more than any other age group. they also say stress has kept them awake at night in the past month. topping the list of sources of stress, work, money, the economy, the usual, i guess. dagen: suck it up. connell: somebody is making up $200 million richer. the $270 million powerball ticket was sold last night, the winner has yet to come forward. the lucky winner has 180 days to collect and they will make the name public. dagen: a quarter past the hour, stocks down every 15 minutes, nicole petallides at the new york stock exchange with news on apple. nicole: we have
out, look, a lot of their improvement had to do with a much lower tax rate related to some of these charges. while there are positive signs in the business that in evestor do like, there's a lot of impact. different story at ubs. interesting to see people try and suck out what this company is reporting when it comes to this quarter. the market reaction was positive than negative. we're looking now down about 0.76% weighing on the swiss market. we had carolin roth since dow with the ceo of armani. if you want to talk about the commonalities between these two kms, it's the number of legal and restructuring issues occurring. ubs is trying to transfer from its investment banking to more of a wealth management model. margins in that business were weaker, weighing somewhat on investor prospects. but when it came to libor in particular, here is how the ceo responded to how they see their ability to put that issue behind them in 2013. >> i think that we made very good progress on addressing many of those issues during 2012. you are always going to have problems, but i think many of
, and it is short -- 2003 was just ten years ago commanded seems like yesterday. in ten short years either taxes will have to go way up or the promise of social security and health care will have to come way down. you are a baby boomer or your parents are boomers. i hope you're not really counting on these programs to take care of you in your old age . melissa: that definitely was not end them not. be sure to watch the tom sullivan show this weekend. you can catch it on seven and 10:00 p.m. on saturday and sunday, 7:00 a.m. and 7:00 p.m. eastern time on sunday. happy friday. thank you for coming on. watch out for this note. happy birthday. you will see you back here monday. ♪ gerri: hello, everybody. i'm gerri willis. tonight on "the willis report". the housing market and recovery. tonight the real realist a story. despite hundreds of regulations put into place by this administration to big to fail is still a real risk. we will tell you what it means for you and your money. and one of the biggest names in fashion. supermodel here to kick off our series of special reports. "the willis report" i
. you have to get in the back of the line and pay taxes. we don't know what kinds of fines they are going to have to pay. two different talks here of amnesty. ann coulter is on the rational review side. she said some were democratic voters. who is going to win this argument in the republican are party. do the democrats need all of the republicans? they just need some. >> it should be fascinating to watch. into the storm goes marco rubio. we are going to find out a lot in the cone teflt text of his aguilt to weather the storm. if he can't rally people to a great cause. he goes into the storm now with conservatives and republicans about to have a important debate about the future of our party. thank you both for joining me tonight >> >>> good evening, americans, and welcome to "the ed show" from new york. republicans have the audacity to attack a highly decorated veteran and label him as a dove? this is "the ed show." let's get to work. >> i'm pleased to see an old friend here before the committee. >> the hague hearing started out friendly and got ugly fast. >> were you corre
washington, a grand bergan encompassing deficit reduction with tax reform, entime reform and deschristianry spending reforms in areas like debt. extension of the debt ceiling for two years. clarification on europe. first, the recession needs to stabilize, but beyond that, policy initiatives clearly indicate a road to political and fiscal and banking reforms and an indication that europe is serious about improving competitiveness. resumption of growth in emerging economies, like china, and finally the federal successfully engineering a modest increase in interest rates without unleashing runaway inflation. maria, these are tall orders, i know, but resolution of all these issues would be a huge boost to business confidence, capital expenditures and hiring would increase dramatically and revenues would rise, and that's what we need, maria. back to you. >> that's some list, bob. >> pretty ambitious. >> we'll be watching that. not everybody is buying into this bull market theory, by the way. pimco's bill gross is actually warning investors to be afraid, and i mean very afraid, of how inflation a
. answers. ...tax time can ofbe...well...taxing. so right now we'll give you... ...$10 off any turbo tax deluxe level software or higher! find thousands of big deals now... ...at officemax. >>> big shake-up in the senate in 2014. geraldo in, scott brown out. the big panel's got it all covered for you tonight here on "the ed show." >>> and the unbelievable story of how nasa handled the space shuttle columbia. on the tenth anniversary of the disaster, a former shuttle program manager blogged his reflections. stay with us. because what you have heard about it really is unbelievable. don't forget, you can listen to my radio show on sirius xm radio channel 127 monday through friday, noon to 3:00. share your thoughts with us on facebook and on twitter using the hash tag edshow. we're coming right back. there'. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours.
with the antigovernment, anti-tax, anti-everything. they were willing to get in bed with him at certain points. and now they're paying for it. and karl is trying to unwind what he's wound. >> he's like a track tout. i used to go and after the races were over, they would show you who they'd recommend you'd bet on. it was always the winners that pass out the free picks. i would have bet on this guy. that's rove out there saying i would have had all of these winners picked, we would have won all of these general elections and now everybody realizes we're going to go over it in a minute. but your thoughts? >> now, i toe ttally agree with howard. your analogy there. the problem for karl is we have all the betting slips. his two organizations, american cross roads and cross roads gps had a 1% and a 14% success rate. that is not a good track record. it doesn't august auger well. this guy, basically, built donors out of more than $200 million and got no return on investment and now he's coming back and saying oh, i can fix the party. good luck with that. >> let's take a look here. you're dead right there. in c
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